Enterprise Minister Arlene Foster has announced a £1.4 million investment by Irish Manufacturing Services Ltd (IMS) to establish a new materials handling business in Aughnacloy, Co. Tyrone.

IMS has already identified £4.2 million worth of export opportunities, which the company will be targeting over the next three years. Invest Northern Ireland offered IMS £140,000 to support the set up of the business which will create 22 new jobs by 2014, generating £570,000 in annual salaries.

“This important investment for Northern Ireland’s materials handling sector will create valuable employment opportunities in an industry that has been severely impacted by the global recession. The 22 new jobs covering a variety of roles including management and supervisory positions will help to boost the local economy.

“Supported by Invest NI, the company will work towards developing its capabilities and resources so that it can effectively exploit the £4.2 million of sales opportunities it has identified across export markets.”

As part of its overall investment, IMS has purchased a license to manufacture a wheeled mobile screener developed by a world leader in the supply of crushing and screening products to the mining, recycling and construction industries. This license gives IMS a market entry opportunity, enabling the company to target international markets with a competitively priced high quality product.

IMS will also design and manufacture other materials handling products for a number of multinational companies. In addition, the company will develop relationships with these global partners and market their product range to target markets.

Patrick McMeel of Irish Manufacturing Services said: “In the wake of the global economic downturn, we recognised the resurgence in demand for mobile products needed for smaller-scale projects and established IMS to capitalise on these opportunities.

“We have worked hard to cultivate close links with our global partners and these relationships will be critical to the development of our business in the short to medium term. We aim to build up our reputation within the materials handling sector and develop strong business partnerships across international markets.”